The Middle East Treasury Summit, October 16 2018, Day 2
Lots more to talk about? Tick.
Lots more old friends to greet? Tick.
More new friends to make? Tick.
More to discuss, to share and to learn? Absolutely tick.
Day two at the Summit offered delegates all this and plenty more featuring much on transformation, on the journeys that individuals, treasury teams, and the profession have made in the region in the past 10 years and where the direction of travel will take treasury in the next 10, 20 or 30 years.
In particular two short, but key, presentations given at the start of the day on corporate and treasury transformation set our scene and focus. Fatih Tokkal, Treasury Director, Yildirim Group, a Turkish global conglomerate and from Princy Royce, Treasury Manager MENA, National Oilwell Varco, a global US oilfield engineering business gave common cause.
As their organisations have grown over the past 10 years, treasury had to meet the challenge to restructure, to professionalise and to invest in systems and people (via the ACT!). And where has this led to?
Quite simply their treasuries are now a strategic partner across the business with a depth of business and financial knowledge that makes it the true hub of corporate life. The process looks deceptively simple - have a vision, make a plan and all will be well! In reality it’s not easy but one key feature stood out from both speakers: if treasury wants that seat at the table then it must build capability in people and systems, must deliver consistently and must demonstrate real value. Thrilling stuff capturing in 10 minutes the critical essentials of treasury development. Bravo Fatih and Princy!
At the close, your correspondent was left with the distinct impression that the first chapter in the life of the ACT Middle East has been successfully written. The next chapter will be more hard work; to embed professional treasury across the region, to work with our regional partners, with new technologies and systems to demonstrate the real benefits of professional treasury and, in my humble view, to meet the single most critical challenge: the development of treasurers, from all communities, from all backgrounds and in all types of organisations.
Bring it on!
Also, we can't end without a shout out to the team for all their hard work producing another fantastic event!
